Bill > HB189

This bill authorizes the State of Mississippi to issue up to $2 million in general obligation bonds to help the City of Pearl fund improvements to its City Hall Complex and related facilities. The State Bond Commission will manage the bond issuance, which can occur anytime before July 1, 2029, with bonds having a maximum maturity of 25 years and interest rates not exceeding legal limits. A special fund called the "2025 City of Pearl City Hall Complex Improvements Fund" will be created within the state treasury to receive the bond proceeds, and the Department of Finance and Administration will oversee disbursing the funds to the City of Pearl for repair, renovation, and upgrade projects. The bonds are considered general obligations of the state, meaning the state's full faith and credit is pledged to repay them, and if legislative appropriations are insufficient, the State Treasurer will cover any shortfall from other unappropriated state funds. The bonds will be exempt from state taxation, can be legally invested by various financial institutions, and will be validated through the Chancery Court. Any unused funds remaining after project completion will be applied to bond debt service.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0189.xml